According to the latest report by IMARC Group, titled “Ghee Market in India: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2019-2024”, the ghee market in India reached a value of around INR XXXX Billion in 2018, growing at a CAGR of more than 11% during 2011-2018. Ghee is a type of clarified butter obtained after the separation of milk solids and water from butter. The elimination of milk solids and water provides ghee with a higher smoke point which makes it suitable for cooking at high temperatures. Ghee made from cow’s milk provides detoxification and nourishment to the body, boosts energy and improves memory power. On the other hand, ghee sourced from buffalo’s milk helps in strengthening the body, curing eye disorders and increasing the glow of the skin. In India, ghee has been traditionally used as a vital ingredient for the preparation of several food items as well as herbal ointments for treating ailments like rashes and minor burns.
At present, ghee is witnessing an escalation in demand across India on account of an increase in disposable incomes which has enabled consumers from lower income groups to afford it. Besides, as ghee does not require refrigeration and is shelf stable, it is preferred over its alternatives such as butter. Apart from this, a rise in the number of restaurants offering traditional Indian food is also giving a boost to the overall consumption of ghee. Moreover, numerous doctors in the country recommend moderate consumption of ghee daily as it helps in reducing inflammation, building strong bones and improving digestion. However, widespread adulteration of ghee, especially with refined and hydrogenated vegetable oils, is hindering the market growth in India. Despite this obstacle, the ghee market in India is expected to reach a value of INR 4,653 Billion by 2024, at a projected CAGR of XX% during 2019-2024.
- The market is segmented on the basis of types into cow and buffalo ghee.
- The market is divided on the basis of the co-operative and private sector. At present, co-operatives represent the largest segment.
- The market has been categorized according to retail and institutional sales. Currently, retail sales account for the majority of the market share.
- On the basis of packaging, the market is segregated into 1kg, 0.5 Kg and 10-15 Kg. Amongst these, 1kg packaging is the most popular segment.
- The regional outlook of the market has been analyzed across fifteen major states, namely, Karnataka, Maharashtra, Tamil Nadu, Delhi, Gujarat, Andhra Pradesh and Telangana, Uttar Pradesh, West Bengal, Kerala, Haryana, Punjab, Rajasthan, Madhya Pradesh, Bihar and Orissa. Amongst these, Uttar Pradesh represents the largest market followed by Rajasthan and Madhya Pradesh.
- The competitive landscape of the market has also been examined with some of the key players being Gujarat Co-operative Milk Marketing Federation Ltd., Mother Dairy Fruits and Vegetables Pvt. Ltd., SMC Foods Limited, Bhole Baba Dairy Industries Ltd., Rajasthan Cooperative Dairy Federation Ltd (RCDF) and Parag Milk Foods Ltd.
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